Extremely significant positive changes in Mercantile Bank Corp (NASDAQ: MBWM) investment behavior have recently occurred: its shorter term price trend turned up, and positive upside/downside volume developed.
Recent significant positive changes in fundamentals have benefitted Mercantile Bank Corp (NASDAQ: MBWM): significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, MBWM is expected to continue to be a Value Builder.
Mercantile Bank has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Mercantile Bank has a good Power Rating of 77 and a good Appreciation Score of 80, triggering the Highest Value Trend Rating.
Recent Price Action
On 5/9/24, Mercantile Bank Corp (NASDAQ: MBWM) stock rose slightly by 0.1%, closing at $39.60. However, below average trading volume at 73% of normal accompanied the advance. Relative to the market the stock has been strong over the last nine months and has risen 5.6% during the last week.
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